201811.08
1

Streamlined Procedures – IRS 2018 Update About the Program Closing

Streamlined Procedures – IRS 2018 Update About the Program Closing Sometimes, dealing with the IRS is sort of, kind of like dealing with a gossipy friend who has a juicy secret that makes her so giddy, she can’t hide it (so says my wife). In this instance, at a recent convention in Houston, the IRS…

201811.05
0

What is Smurfing in Banking (When Splitting Bank Deposits is a Crime)

What is Smurfing in Banking (When Splitting Bank Deposits is a Crime) Sometimes, even the most innocuous actions can have serious consequences beyond the intended result — especially when the IRS is involved. This is especially true when a person inadvertently commits a financial crime by smurfing money – which occurs as the result of…

201810.31
1

FATCA is the Newest IRS International Compliance Campaign in 2018

FATCA is the Newest IRS International Compliance Campaign in 2018 In recent years, the IRS has introduced several new International Tax Enforcement Groups, designed to reduce non-compliance, fraud, and evasion. The IRS recently announced that FATCA is the Newest IRS International Tax Compliance Campaign. When considering the fact that the U.S. Government has already secured their…

201810.28
0

Voluntary Disclosure Can Deter Criminal Investigations & Prosecutions

Voluntary Disclosure Can Deter Criminal Investigations & Prosecutions From 2009 to September 28, 2018, the IRS OVDI/OVDP program was in place. It was a great program for individuals, businesses or estates that had unreported foreign/offshore income, assets, investments and accounts — and were either willful, wanted to avoid an audit/criminal investigation, or had complex PFIC…

201810.22
0

B1 Visa/B2 Tourist Visa U.S. Tax Dangers (FBAR, FATCA & PFIC)

B1 Visa/B2 Tourist Visa U.S. Tax Dangers (FBAR, FATCA & PFIC) So, you like coming to the U.S. to visit your kids (and grandkids) but not up for undertaking the formalities of becoming a Legal Permanent Resident/Green Card Holder — and having to be taxed on your worldwide income. The reality is, even as a…